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Dec 22, 2012
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. >> reporter: but washington isn't a source of optimism these days. >> if they make a deal it certainly won't be a good one, they'll say this is something we've got to get done and i don't think it's going to be using any brain power to do it. >> reporter: already there is growing talk in washington of a so-called mini-deal. >> let's hope they do. the president was serious. he was friendly in the statement he made-- >> he's going on vacation. he's going to hawaii. >> susan: yeah, but there's an urgency here, and do you think we are going to be any closer to getting a deal done? >> the president really scaled back his ambitions for the immediate time. he said, look, guys, nancy pelosi, come back, try to do the minimum, try to do the least amount of harm. and then come up with some way to say that we'll address bigger issues in the new year. >> he proposed tonight a smaller package, a smaller deal. what will this mean for the economy? what will it mean for the deficit if this small deal, mini deal is passed? >> well, that could be a big problem because basically he's left out a lot of cri
. >> reporter: but washington isn't a source of optimism these days. >> if they make a deal it certainly won't be a good one, they'll say this is something we've got to get done and i don't think it's going to be using any brain power to do it. >> reporter: already there is growing talk in washington of a so-called mini-deal. >> let's hope they do. the president was serious. he was friendly in the statement he made-- >> he's going on vacation. he's going to hawaii....
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Dec 22, 2012
12/12
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it may not seem so today, as stock investors ran for the exits even faster than washington lawmakers left town for the holidays. but, somehow, someway, sometime there will be a deal between congress and white house. and, once that happens equity investors will need to refocus. >> once we get into the new year, i think we're going to get right back into earnings season again. and, once again earnings season is what happened last quarter and what do we think is going to happen in the quarters moving forward. >> reporter: as far as what happened in the quarter that ends for most companies on new year's eve, the answer isn't good. according to standard and poor's, wall street analysts predict big u.s. firms only saw a 3% increase in profits in the urth quart. october 1, they were far more optimistic, forecasting a close to 10% gain. so what happened to all that earnings optimism earnings? it turns out it evaporated, as the u.s. economy started to show signs of weakness in the last few months. >> the trend of aggregate earnings has been flat or even a little bit down. so, if that doesn't
it may not seem so today, as stock investors ran for the exits even faster than washington lawmakers left town for the holidays. but, somehow, someway, sometime there will be a deal between congress and white house. and, once that happens equity investors will need to refocus. >> once we get into the new year, i think we're going to get right back into earnings season again. and, once again earnings season is what happened last quarter and what do we think is going to happen in the...
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Dec 29, 2012
12/12
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do we have to reach some point of pain in washington, d.c. that people get mos motivated to geta deal. how does it work in washington? >> i wish i knew.it seems that n ratcratcheting up the pain. i was surprised. i thought enough after the election would be sorted out and the fiscal cliff would be a painful enough deadline they would come together. but it seems like the pain will come when we get to the dead cliff where they must absolutely deal with. it's one area where they must focus attention and create another deadline where they have to do something and potentially a larger agreement. >> susie: real quickly this has been frustrating from everybody from wall street to ceo to average american taxpayers. even the president saw that playing out. how do you seep see this playing out. will we have a deal on monday. >> it'we haven't heard them tal. but the hurdle remains in the house. 9 odds look like we'll go over for some period of time what bliss brings them back to a deal at that time is anybody's guess. >> susie: we'll be reporting more o
do we have to reach some point of pain in washington, d.c. that people get mos motivated to geta deal. how does it work in washington? >> i wish i knew.it seems that n ratcratcheting up the pain. i was surprised. i thought enough after the election would be sorted out and the fiscal cliff would be a painful enough deadline they would come together. but it seems like the pain will come when we get to the dead cliff where they must absolutely deal with. it's one area where they must focus...
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Dec 25, 2012
12/12
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washington's cliff talks still remain deadlocked. congress will return on thursday, and it's still possible a few days of holiday cheer and constituent outrage may push republicans and democrats to craft a last-minute agreement to avoid the worst of the fiscal cliff. if we do go over the cliff, the i.r.s. has warned most taxpayers may not be able to file their returns until late march. that would mean long delays for many tax refunds. and economists warn the economic effects will be felt quickly if $600 billion in automatic tax increases and spending cuts begin to take effect next year. at this rate, it looks like lawmakers will celebrate new year's eve at work-- if not resolving the fiscal cliff, at least trying to avoid the blame. darren gersh, nbr, washington. >> susie: going over the fiscal cliff will not only have an impact on the national level, it will also hit states and eventually cities. if lawmakers fail to reach a deal before january 1, the cliff's across the board spending cuts and tax increases will impact how much mone
washington's cliff talks still remain deadlocked. congress will return on thursday, and it's still possible a few days of holiday cheer and constituent outrage may push republicans and democrats to craft a last-minute agreement to avoid the worst of the fiscal cliff. if we do go over the cliff, the i.r.s. has warned most taxpayers may not be able to file their returns until late march. that would mean long delays for many tax refunds. and economists warn the economic effects will be felt...
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Dec 8, 2012
12/12
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the only reason they would is if washington completely because this. at this point i don't think that's going to happen. >> susie: how do you think the federal reserve is going to read in today's jobs report. they're meeting on tuesday as you know. do you think it's going to trigger any new response from the fed? >> well, as you know the fed's on high alert. they've got their foot to the accelerator. they're using open ended buying bonds and they're going to up the ante i think at the next meeting in the coming week. operation twist ends and they're going to start rolling that into this quantitative even process. so a lot of bond purchases. i think they're going to continue to do that until unemployment is moving definitively lower and is much lower than it is today. and most importantly, they're going to wait and see how these things go in washington. they're very nervous that policy makers aren't going to get this right. so as long as washington's bitter i think they're going to be in high alert. >> susie: thanks a lot mark, great talking about you.
the only reason they would is if washington completely because this. at this point i don't think that's going to happen. >> susie: how do you think the federal reserve is going to read in today's jobs report. they're meeting on tuesday as you know. do you think it's going to trigger any new response from the fed? >> well, as you know the fed's on high alert. they've got their foot to the accelerator. they're using open ended buying bonds and they're going to up the ante i think at...
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Dec 27, 2012
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employees at the chain's 120 stores in the washington d.c. area, are writing the phrase "come together" on the side of cups, along with customer drink orders. starbucks c.e.o. howard schultz calls it a small but powerful gesture, designed to urge our elected officials to come together to reach common ground on the fiscal cliff. that's "nightly business report" for wednesday, december 26. have a great evening everyone. we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> the following kqed production was produced in high definition. >> tonight on quest: how might global warming influence your lifestyle? well, start with your favorite wine. find out what you may be drinking, if current warming trends continue. >>> and as the old adage goes, "they're not making any new land." or are they? as the inhabitants of our planet look outward, cutting-edge technologies are revealing dozens of new, never-before-seen planets, some of which may be surprisin
employees at the chain's 120 stores in the washington d.c. area, are writing the phrase "come together" on the side of cups, along with customer drink orders. starbucks c.e.o. howard schultz calls it a small but powerful gesture, designed to urge our elected officials to come together to reach common ground on the fiscal cliff. that's "nightly business report" for wednesday, december 26. have a great evening everyone. we'll see you online at: www.nbr.com and back here...
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Dec 27, 2012
12/12
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employees at the chain's 120 stores in the washington d.c. area, are writing the phrase "come together" on the side of cups, along with customer drink orders. starbucks c.e.o. howard schultz calls it a small but powerful gesture, designed to urge our elected officials to come together to reach common ground on the fiscal cliff. that's "nightly business report" for wednesday, december 26. have a great evening everyone. we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org
employees at the chain's 120 stores in the washington d.c. area, are writing the phrase "come together" on the side of cups, along with customer drink orders. starbucks c.e.o. howard schultz calls it a small but powerful gesture, designed to urge our elected officials to come together to reach common ground on the fiscal cliff. that's "nightly business report" for wednesday, december 26. have a great evening everyone. we'll see you online at: www.nbr.com and back here...
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Dec 20, 2012
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stocks headed south on wall street as debate over the fiscal cliff heated up in washington. adding to those worries, word that fitch ratings repeated its threat to strip the u.s. of its triple "a" credit rating if we go over the cliff. the dow fell 99 points, the nasdaq lost 10, the s&p down 11. >> tom: u.b.s., the big swiss bank, is putting accusations of interest rate manipulation behind it. the bank will pay $1.5 billion to settle charges of rigging a key international lending rate. the u.s. justice department also filed criminal charges against two u.b.s. traders, and a unit of the bank itself. the agency calls the bank's conduct, "simply astonishing." >> hundreds of trillions of dollars in mortgages, student loans, credit card debt, financial derivatives and other financial products worldwide are tied to libor, which serves as the premier benchmark for short term interest rates. in short, the global marketplace depends upon all of us relying on an accurate libor. yet u.b.s., like barclay's before it, sought repeatedly to fix libor for its own ends. >> tom: the probe int
stocks headed south on wall street as debate over the fiscal cliff heated up in washington. adding to those worries, word that fitch ratings repeated its threat to strip the u.s. of its triple "a" credit rating if we go over the cliff. the dow fell 99 points, the nasdaq lost 10, the s&p down 11. >> tom: u.b.s., the big swiss bank, is putting accusations of interest rate manipulation behind it. the bank will pay $1.5 billion to settle charges of rigging a key international...
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Dec 31, 2012
12/12
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with all of the money printing in washington and inflation creeping up. some say it's smart to holding collectibles to your lineup to stay in the game. >> we need to gis distinguishbed investments. and some of these can be rewarding particularly if we see higher inflation in the years to come. >> you can easily unload yourb u can for a stock or bond. there will be a healthy demand for the yankee slugger that built the house but now houses the dirt. babe ruth went for record prices. >> he is the face of baseballanp in time. >> not to mention a good facef . john stocks would you mind signing this? >> have you got a basketball? >> susie: on wall street traders popped open thgnchpaame on hopes a fiscal cliff deal was imminent. big board volume climbed to 730 million shares. six stocks were up for each one that was down. over on the nasdaq volume was more than twice as heavy at 1.5 billion shares. on the sector front, we saw gains of at least 2% in technology, energy and materiapa related stocks. financials were the strongest group this year, rising overr 26%.
with all of the money printing in washington and inflation creeping up. some say it's smart to holding collectibles to your lineup to stay in the game. >> we need to gis distinguishbed investments. and some of these can be rewarding particularly if we see higher inflation in the years to come. >> you can easily unload yourb u can for a stock or bond. there will be a healthy demand for the yankee slugger that built the house but now houses the dirt. babe ruth went for record prices....
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Dec 1, 2012
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.," washington. >> tom: many companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now to pay shareholders, by declaring special dividends. today, whole foods became the latest in a slew of firms opting for one-time payouts. suzanne pratt reports on what's behind these investor pay-days. >> reporter: costco is doing it. brown forman-- the maker of jack daniels and finlandia is also doing it. today, even whole foods is finding it appetizing. they've all announced special dividends, eager to reward their shareholders with a nice check before expected tax increases happen next year. >> current law says that qualified dividend income tax rates are at 15%. and, if no legislation is passed between now and then end of the year, those rates would go up to as high as 43.4%. >> companies just want to pass along these dividends. it's a thank you to shareholders. it sparks interest in their stock. >> reporter: according to s&p, this month alone 216 companies have declared special dividends. last november only 72 firms decided to make similar payo
.," washington. >> tom: many companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now to pay shareholders, by declaring special dividends. today, whole foods became the latest in a slew of firms opting for one-time payouts. suzanne pratt reports on what's behind these investor pay-days. >> reporter: costco is doing it. brown forman-- the maker of jack daniels and finlandia is also doing it. today, even whole foods is finding...
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Dec 20, 2012
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darren gersh, "n.b.r.," d washington. >> susie: the threat of the fiscal cliff was a big topic at an investor conference in new york today hosted by johnson controls. this wisconsin-based industrial conglomerate is a leading provider of products to make buildings energy efficient, and it's also the world's largest maker of car batteries and automotive seats. c.e.o. stephen roell told me he's worried that uncertainty about the fiscal cliff could hurt consumer confidence, and his business. >> we don't do that. as the consumer, i products to costumers like the big three, that in turn sell to the autowa industry. my biggest concern is how it will affect the psychology of the consumer. i've been surprised, susie, that people continue to buy autobiles. thatouldar is change dramatically. >> sue:e steve, to what extent are the ups and downs impacting your business day to day. >> i think people are holding back on making captain investments. i see that particularly in the building side. from my standpoint, i continue to invest around the world. i'll invest make sure i'm buying the strategies
darren gersh, "n.b.r.," d washington. >> susie: the threat of the fiscal cliff was a big topic at an investor conference in new york today hosted by johnson controls. this wisconsin-based industrial conglomerate is a leading provider of products to make buildings energy efficient, and it's also the world's largest maker of car batteries and automotive seats. c.e.o. stephen roell told me he's worried that uncertainty about the fiscal cliff could hurt consumer confidence, and his...
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Dec 15, 2012
12/12
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but here on wall street investors ignored that up beat news and were fixated on the stalled talks in washington about the fiscal cliff. >> the dow lost 36 points, the nasdaq down 21, the s and b 500 fell, s&p fell also. >> looking at the outlook for gas and oil prices, we turn to an oil analyst, founding partner at again capital. >> you know, john, i was thinking looking over these numbers a few weeks ago here in the northeast we were paying close to $5 a gallon for gasoline, of course it was because of hurricane sandy and standing in line, gas lines, and now this. i know it is a special situation, but what is going on here? >> well, that was a special situation, it was incredible disruption of the supply chain to the northeast, if you recall, only northern new jersey had to endure the odd, even rationing it shows you how isolated that was, but what is going on here, suze is that the united states is in the process of becoming energy independent, it is in the process of surpassing saudi arabia as the world's number one producer of oil. because of the shale drilling that going on, mostly in the
but here on wall street investors ignored that up beat news and were fixated on the stalled talks in washington about the fiscal cliff. >> the dow lost 36 points, the nasdaq down 21, the s and b 500 fell, s&p fell also. >> looking at the outlook for gas and oil prices, we turn to an oil analyst, founding partner at again capital. >> you know, john, i was thinking looking over these numbers a few weeks ago here in the northeast we were paying close to $5 a gallon for...
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Dec 28, 2012
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. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind on anything the president proposes. >> it appears to me the action, if there is any, is now in the senate side and we'll just have to see if we're able, on a bipartisan basis to move forward. >> reporter: senate majority leader harry reid said he too would try to reach agreement. but that was after spending most of the day hammering away at house republicans. reid blamed the current stand off on the inability of house republicans to pass their own plan which would have extended tax breaks for everyone making less than a million dollars a year. >> it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republ
. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind on anything the president proposes. >> it appears to me the action, if there is any, is now in...
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Dec 21, 2012
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and recesses tend to drive decisions in washington in the congress. and now you have a recess, significantly increased by a multiple of 10, probably, or 20 by the fact that we are heading into a fiscal cliff. so those two forcing mechanisms should cause the sides to come together and reach an agreement in my opinion, in addition it's also in their political interest to do that. it is time to govern. it's time toned the politics and time to govern. >> susie: you won't get any argument from most of the american opinion lech on that and you surely know the ways of washington. so we hope are you right on that i would like to switch gears, my last question to you because i understand just before the program you were telling me that you are on the board of intercontinental exchange, ice, that made this big acquisition for the nyse. this was a big deal for you guys. why is it so important? for you and for investors? >> well, first i think it's a good proposal and it will be very good for both companies. you're bringing together a lot of synergies here and a
and recesses tend to drive decisions in washington in the congress. and now you have a recess, significantly increased by a multiple of 10, probably, or 20 by the fact that we are heading into a fiscal cliff. so those two forcing mechanisms should cause the sides to come together and reach an agreement in my opinion, in addition it's also in their political interest to do that. it is time to govern. it's time toned the politics and time to govern. >> susie: you won't get any argument from...
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Dec 28, 2012
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a dramatic cliff-hanger today between washington and wall street about the fiscal cliff. stocks initially sold off after senate majority leader harry reid predicted the economy would go over the cliff. speaking from the senate floor he said there's not enough time between now and the end of the year to reach a deal. but stocks erased their losses in the final hour of trading on news that the house of representatives will reconvene on sunday night to resume talks. by the closing bell, the dow was down only 18 points, bouncing back from a triple digit loss, the nasdaq lost four, and the s&p slipped almost two points. so what happens next? and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white
a dramatic cliff-hanger today between washington and wall street about the fiscal cliff. stocks initially sold off after senate majority leader harry reid predicted the economy would go over the cliff. speaking from the senate floor he said there's not enough time between now and the end of the year to reach a deal. but stocks erased their losses in the final hour of trading on news that the house of representatives will reconvene on sunday night to resume talks. by the closing bell, the dow...
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Dec 11, 2012
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most investors remain optimistic there will be a deal in washington before santa arrives. but floor broker teddy weisberg isn't sure where all the optimism is coming from. >> it's a real dilemma here because a lot of folks that i talk to, and customers and professionals alike, are very, very nervous. and i think they are perplexed by the lack of weakness in the market, if you will. >> reporter: economists say no deal between lawmakers and the white house by new year's could push the u.s. into recession by early next year. that dire prediction should be bad news for stocks, but investors remain unfazed. experts say stocks are more likely to move in a tight trading range in the next few weeks. >> if it does get toward the end of the year and it's a problem, maybe we'll see some sellers come out. but, so far, people just don't see it as a problem, and the type of market action that we've seen over the last couple of weeks is typical of what we see at the beginning of sustainable rallies. >> reporter: speaking of rallies, the s&p 500 is up about 12% this year. if that holds, i
most investors remain optimistic there will be a deal in washington before santa arrives. but floor broker teddy weisberg isn't sure where all the optimism is coming from. >> it's a real dilemma here because a lot of folks that i talk to, and customers and professionals alike, are very, very nervous. and i think they are perplexed by the lack of weakness in the market, if you will. >> reporter: economists say no deal between lawmakers and the white house by new year's could push the...
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Dec 14, 2012
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but now colorado and washington state residents can use marijuana without a doctor's permission. while they are still breaking federal law, what impact could these new state laws have on the medical dope business? we have more of our recent conversation with tripp keber, c.e.o. of medical marijuana products maker dixie elixirs. >> you are looking at a $300 million in denver going to in excess of $600 million, this is about taxes, this is about jobs. the state of colorado we paid into a state coffers as an industry over $50 million in taxes, licenses and fees. we employ as an industry directly over 10,000 people in the state. and so there are not many states that can afford to turn a blind eye to that. so i certainly believe in the state of new jersey and potentially even connecticut certainly with the experiences of the superstorm sandy that they going to look long and hard at these markets, at these vertical markets to potentially den bit. >> tom: does legallization of the drug itself, however, hurt your elixir business. in other words, f people can consume marijuana directly th
but now colorado and washington state residents can use marijuana without a doctor's permission. while they are still breaking federal law, what impact could these new state laws have on the medical dope business? we have more of our recent conversation with tripp keber, c.e.o. of medical marijuana products maker dixie elixirs. >> you are looking at a $300 million in denver going to in excess of $600 million, this is about taxes, this is about jobs. the state of colorado we paid into a...
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Dec 18, 2012
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darren gersh, "n.b.r.," washington. >> tom: optimism that speaker boehner's latest offer could get the fiscal cliff talks moving again, helped stocks move nicely higher: the dow rose 100 points, the nasdaq added 39, the s&p up almost 17 points. but with time running out to reach a deal, what happens on wall street, if we go over the cliff? suzanne pratt reports. >> reporter: one thing is for sure, wall street can count. that means investors know there are just nine trading days left until tax hikes automatically take effect across the nation, and hit americans where it hurts: their wallets. and, investors are also aware there are even fewer days before lawmakers are scheduled to leave on holiday break. despite the ticking clock, many investors remain optimistic there will be a deal between congress and the white house before the ball drops in time square. veteran trader jonathan corpina agrees there will soon be a resolution, but he thinks the news will be a big ho-hum for stocks. >> i think the sentiment of a deal solution is already priced into our market right now. so, what does tha
darren gersh, "n.b.r.," washington. >> tom: optimism that speaker boehner's latest offer could get the fiscal cliff talks moving again, helped stocks move nicely higher: the dow rose 100 points, the nasdaq added 39, the s&p up almost 17 points. but with time running out to reach a deal, what happens on wall street, if we go over the cliff? suzanne pratt reports. >> reporter: one thing is for sure, wall street can count. that means investors know there are just nine...
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Dec 19, 2012
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all they hear from washington is about tax hikes and spending cuts. how come nobody is talking about how to grow the economy? >> well, first of all, i think the c.e.o.s of the large corporations are very tuned into this debate. many of them are actually participating directly in the debate in washington. and they're entirely aware of all of the stuff we're talking about right now, and the degree to which an agreement, which i believe we'll see, would clear the air and would free -- would liberate a lot of investment and hiring and expansion. and as far as business in general is concerned, once this is out of the way, all of that talk about tax increases, spending cuts, dysfunction, gridlock, that will disappear. so i think you'll see a better 2013 than 2012. that's not too hard because 2012 has been a very slow year, even before the fourth quarter and into hesitation. i think the outlook beyond this is really pretty good. >> susie: we're going to have to leave it there and that very upbeat note. thank you e very much, roger. we've been speaking with r
all they hear from washington is about tax hikes and spending cuts. how come nobody is talking about how to grow the economy? >> well, first of all, i think the c.e.o.s of the large corporations are very tuned into this debate. many of them are actually participating directly in the debate in washington. and they're entirely aware of all of the stuff we're talking about right now, and the degree to which an agreement, which i believe we'll see, would clear the air and would free -- would...
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Dec 12, 2012
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plus, both colorado and washington state voters have okayed marijuana. we talk with one company already profiting from medical marijuana products. >> tom: the college football bowl season is a lesson in supply and demand economics, showing how the market economy works for the same seat in the same stadium for two different games. here's rick horrow with tonight's "beyond the scoreboard." >> reporter: they're two of the biggest games of the college football season, but despite being played in the same stadium just six nights apart, interest in the discover orange bowl and the b.c.s. national championship game couldn't be more different. the average ticket price for the title game between traditional powers alabama and notre dame is a whopping $2,400, which is more expensive than two of the last three super bowls. the game likely will be the most-watched event in cable tv history, with more than 30 million people expected to tune in. both alabama and notre dame will pocket $22 million for the appearance. for the orange bowl, florida state and northern illi
plus, both colorado and washington state voters have okayed marijuana. we talk with one company already profiting from medical marijuana products. >> tom: the college football bowl season is a lesson in supply and demand economics, showing how the market economy works for the same seat in the same stadium for two different games. here's rick horrow with tonight's "beyond the scoreboard." >> reporter: they're two of the biggest games of the college football season, but...
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Dec 7, 2012
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. >> tom: lots of theatrics today, but few visible signs of progress in washington towards a fix for the fiscal cliff. the only hopeful sign is that republicans and democrats are talking privately again. but they haven't worked out any of the big issues, including what to do about the nation's debt limit. washington will hit its borrowing limit early next year, darren gersh has the latest. >> reporter: sitting around the kitchen table with a middle class family in virginia, the president once again pressed for congress to avoid the fiscal cliff. >> if this family has a couple of thousand dollars less to spend, that translates into $200 billion of less consumer spending next year. and that's bad for businesses, large and small. >> reporter: behind the scenes, the two sides are talking again. but there was no progress in public. senators today fought over the debt limit, and ended up deadlocked over a bill to allow the president to automatically increase borrowing. >> he's shown what he is really after is unprecedented powers to spend taxpayer dollars without any limit at all. >> repor
. >> tom: lots of theatrics today, but few visible signs of progress in washington towards a fix for the fiscal cliff. the only hopeful sign is that republicans and democrats are talking privately again. but they haven't worked out any of the big issues, including what to do about the nation's debt limit. washington will hit its borrowing limit early next year, darren gersh has the latest. >> reporter: sitting around the kitchen table with a middle class family in virginia, the...